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San Diego ECON 120 – Rational decision-making under

01 / 10 / 2021 Projects

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San Diego ECON 120 – Rational decision-making under

Question 30Rational decision-making under conditions of scarcity requires individuals to:a. place a monetary value on everything.b. be alert to price reductions on desired products.c. know the prices of all goods they might buy.d. understand that trade-offs are necessary.e. earn as much income as possible.Which of the following will cause a movement along a good’s supply curve?a. an increase in the price of an inputb. more firms enter the marketc. the price of the good increasesd. the production process of the good becomes more efficiente. the government places a subsidy on the producer of the good

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